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Greece Opens Bidding Process for National Lottery Concession

Greece has launched a formal tender process for the future operation of its national and state-owned lotteries, as the current concession held by OPAP's Hellenic Lotteries approaches the end of its term. The new concession, overseen by the Hellenic Republic's sovereign wealth body Growthfund, offers exclusive rights to run the country's lottery portfolio for a minimum period of ten years.
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Christian McDeen | Caesar of Lands of Betting and Live Casino

Updated: Jul 10, 2025

Greece Opens Bidding Process for National Lottery Concession

 

Greece TeritorryThe Greek government has formally initiated a new public tender process to determine who will manage its network of state lotteries over the next decade, as the existing concession held by Hellenic Lotteries S.A., a subsidiary of OPAP, reaches its final months.

This move introduces a new phase in the oversight of one of the country's most established gambling segments. The forthcoming licence will provide exclusive rights to produce, operate, and promote a group of state lottery products for at least ten years. Among them are the National Lottery (Ethnikó), the Instant State Lottery, the Housing Lottery, and several other long-running draws with a public or social function, including a pan-European draw managed in coordination with AELLE.

online lottery iconThe entity overseeing the process is Growthfund, the state's sovereign asset management organization, which manages a portfolio of strategic public holdings on behalf of the Greek state. The tender will unfold in two distinct phases. The first stage invites interested parties to formally express interest by 4:00 PM (local time) on July 23, 2025. Only bidders that meet the initial requirements will progress to the second stage, where full financial and operational offers will be considered.

The current licence to operate all of these lotteries was granted in 2013 to OPAP's Hellenic Lotteries S.A., in exchange for an upfront payment of €190 million and long-term commitments on revenue contribution. That agreement, which has spanned twelve years, is set to conclude by the end of 2025. While OPAP remains eligible to bid again, the process has been explicitly opened to other entities, including international firms with relevant credentials.

lottery iconIn launching this new tender, Greek authorities are taking a broader approach to concession policy. The aim, based on Growthfund's public communication, is to maintain transparency while reinforcing the long-term viability and strategic role of state-controlled lotteries in the national economy.

The return of the lottery licence to market comes at a time when OPAP's own business remains firmly anchored in lottery operations, even amid expansion into digital formats. In its most recent quarterly report, OPAP posted gross gaming revenue (GGR) of €595 million—an 8.2% increase from the same quarter last year. Lottery products contributed €207 million of that figure, or just under 35% of the company's total GGR. That segment grew by 5.5% year-on-year, reinforcing its importance despite broader sector diversification.

Other areas of growth included sports betting, which generated €190 million (up 13.1% year-over-year), and video lottery terminals (VLTs), which generated €89 million, reflecting a 3.5% increase. One area showing a decline was instant and passive games, which fell by 8.6% to €25.6 million.

Despite evolving player preferences and shifts in digital habits, traditional lottery draws continue to represent a significant pillar of Greece's legal gambling sector. For the government, ensuring stability in this space—along with maximising revenue potential—appears central to the current licensing strategy.

License RenewalWhile the commercial value of the upcoming licence is still unclear, bidders can expect the process to be both rigorous and tightly regulated. The Greek state has previously emphasized the need for licensed gambling to be socially controlled and responsibly managed. That same outlook is expected to influence the assessment of applications, particularly in terms of operational history, technical capabilities, and the bidder's capacity to handle both legacy systems and modern digital distribution.

It remains to be seen whether OPAP will pursue another long-term agreement. Given its legacy role, infrastructure, and deep integration into Greece's gambling landscape, OPAP may retain an interest. At the same time, the decision to open the bidding process to new applicants suggests that Greek authorities are seeking competitive offers and a refreshed approach to how the lotteries are administered going forward.

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